CleanSpark, Inc. (NASDAQ:CLSK) CTO Sells $14,040.00 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of CleanSpark stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $10.40, for a total value of $14,040.00. Following the sale, the chief technology officer now owns 201,520 shares in the company, valued at $2,095,808. This represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Taylor Monnig also recently made the following trade(s):

• On Friday, November 29th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $14.35, for a total transaction of $19,372.50.
• On Friday, October 25th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $11.88, for a total transaction of $16,038.00.

CleanSpark Trading Down 5.6 %

CLSK traded down $0.58 during trading on Friday, reaching $9.78. 23,962,164 shares of the company were exchanged, compared to its average volume of 31,576,566. The stock has a market cap of $2.86 billion, a P/E ratio of -16.86 and a beta of 4.16. CleanSpark, Inc. has a 52 week low of $6.41 and a 52 week high of $24.72. The firm has a 50 day moving average of $12.90 and a 200 day moving average of $13.00.

Institutional Trading of CleanSpark

A number of large investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in shares of CleanSpark in the second quarter valued at approximately $18,074,000. Van ECK Associates Corp grew its holdings in CleanSpark by 64.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock worth $14,857,000 after buying an additional 620,792 shares in the last quarter. Geode Capital Management LLC increased its position in CleanSpark by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock valued at $57,577,000 after acquiring an additional 549,187 shares during the period. Millennium Management LLC raised its stake in CleanSpark by 74.6% during the 2nd quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock valued at $19,958,000 after acquiring an additional 534,825 shares in the last quarter. Finally, Barclays PLC boosted its position in CleanSpark by 364.0% during the 3rd quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after acquiring an additional 305,316 shares during the period. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of CleanSpark in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded CleanSpark from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a research note on Thursday, October 3rd. Finally, Macquarie raised their price target on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $23.17.

CleanSpark Company Profile

CleanSpark, Inc operates as a bitcoin miner in the Americas. It owns and operates data centers that primarily run on low-carbon power. Its infrastructure supports Bitcoin, a digital commodity and a tool for financial independence and inclusion. The company was formerly known as Stratean Inc and changed its name to CleanSpark, Inc in November 2016.